What is an express contest? Express contest The express bankruptcy is a form of bankruptcy that is articulated in bankruptcy legislation for companies in a situation of insolvency that lack sufficient assets to be able to satisfy, not even, the credits against the mass. In other words, for companies that do not have assets of […]
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Voluntary bankruptcy The health crisis situation caused as a result of Covid-19, accompanied by the paralysis of a large part of the economy, has led many companies to find themselves unable to face the their debts, being able to use, to face their insolvency situation, a legal tool, such as bankruptcy. What is a voluntary
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What is the Pre-Bankruptcy Law The Law on pre-bankruptcy law after the reform of Royal Legislative Decree 1/2020 On May 7, it was published in the Official State Gazette Royal Legislative Decree 1/2020, of May 5, approving the revised text of the Bankruptcy Law (TRLC), which will enter into force on September 1 and whose
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What happens when a company enters bankruptcy? Before focusing on what happens when a company enters bankruptcy proceedings, we must answer the following question: What is bankruptcy? The bankruptcy is a procedure that takes place before the court of first instance in the event that the debtor is a natural person, or before the commercial
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I have to close my company because of the Covid-19 The situation caused as a result of COVID-19 has brought about an economic crisis, with numerous self-employed workers and companies having accumulated numerous debts, practically obtaining no income, which has caused them to enter into a insolvency situation, which in many cases forces them to
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Dissolve a company with debts The scenarios that companies are having to face due to the crisis caused by COVID-19 are diverse. The limitation of the mobility of people and the suspension or limitation of certain sectors of activity, among other measures adopted to minimize the risk of sanitary collapse, are having a great impact
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Public credits and the second chance in the new bankruptcy law With the entry into force, on September 1, of the Royal Legislative Decree 1 /2020, of May 5, which approves the Consolidated Text of the Bankruptcy Law (hereinafter, TRLC ) the “second chance” mechanism for individuals has been modified, that is, the possibility that
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Phases of a bankruptcy Before analyzing the phases that are part of the bankruptcy , it should be remembered that the bankruptcy is a judicial proceeding that will proceed in the event of state of insolvency of the company or individual, that is, when they cannot regularly meet their enforceable obligations. Each of the different
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Bill amending the capital companies law What do the changes you propose mean? On September 7 of last year, the Bill of Law amending the consolidated text of the Capital Companies Law was published in the Official Gazette of the Cortes Generales, approved in turn by Royal Legislative Decree 1/2010, of July 2, and other
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Dissolution of the company and responsibility or not of its administrators Actualmente y con motivo de la pandemia mundial provocada por el COVID-19 el legislador ha modificado la normativa sobre disolución de las sociedades mercantiles afectando con ello al régimen de responsabilidad de los administradores sociales, suspendiendo la obligación de disolución de las compañías mercantiles
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